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| Thread ID: 98073 | 2009-03-10 08:14:00 | Running a company | george12 (7) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 755285 | 2009-03-12 03:54:00 | You've already said that you can manage fine on your own but I highly recommend getting an accountant to take care of it. I work for a small company (3 of us) and we pay an accountant about $3500 a year to look after a few things. Most stuff like tax etc is done by us but having an accountant there unlocks a whole heap of loopholes which at the end of the day means more money for you. I would of thought as far as transferring stock across that you wouldnt need to sell it at all? Wouldnt you just disregard the current stock (in IRD's eyes), provided there isn't alot, and sell that off to the side until its gone but work with the money you have already to buy stock for the business? As you own the stock already there wouldnt be any gst to be paid on it? |
hueybot3000 (3646) | ||
| 755286 | 2009-03-12 04:46:00 | There are all sorts of loopholes in the law. Accountants and Lawyers are paid to find them. | Sweep (90) | ||
| 755287 | 2009-03-12 04:59:00 | A 'current account' in the context of what I was talking about is not a 'bank account' as such, it is a record of money the company owes you (other than capital). Let's keep this simple : $100 capital will do it, the rest goes into your 'current account' or loan or 'directors account' of whatever you want to call it. The money goes into the business bank account, but for the purposes of record keeping it isn't income, it is a credit to your 'current account'. A |
andrew93 (249) | ||
| 755288 | 2009-03-12 04:59:00 | [deleted duplicate] | andrew93 (249) | ||
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